Puerto Rico Suffers 2 Earthquakes, Will its Bitcoin Billionaires Help Out?

By January 7, 2020 Bitcoin Business
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With massive earthquakes and a possible Tsunami warning for Puerto Rico, Bitcoin (BTC) billionaires like Brock Pierce have an opportunity to make good on promises made to transform the Caribbean island.

Time for Bitcoin Billionaires in Puerto Rico to Put Words to Action

The U.S. Geological Survey says another earthquake hit Puerto Rico on Tuesday (January 7, 2020). Tuesday’s 6.4 magnitude tremor follows a 5.8 magnitude shock that ripped through the island on Monday (January 6, 2020).

According to CNN, Puerto Rico’s Electric Power Authority is reporting power outages across the island as the tremors have triggered emergency protection protocols in many electric power stations.

Back in 2017, following the decimation of Hurricane María, Brock Pierce and several other Bitcoin billionaires moved to Puerto Rico promising to revamp the island’s infrastructure while enjoying massive tax holidays.

At the time, the group of crypto billionaires reportedly wished to create a cryptocurrency utopia in Puerto Rico — transforming the island into a high-tech virtual currency paradise.

Now, with the island suffering another major devastation, it’s perhaps time for these Bitcoin billionaires to make good on their promises. Still reeling from the effects of Hurricane María, the island is likely in need of emergency relief. Crypto funds are certainly better suited to fund such an endeavor with lightning fast payment channels available and low fees.

While Pierce and co may have been unable to build their crypto utopia on Puerto Rico, the current situation is perhaps an opportunity to stand up and be counted.

Bitcoin Aiding Charity Efforts Across the Globe

As previously reported by Bitcoinist, Bitcoin has proven to be an effective currency for supporting relief efforts across the globe. Global charity organizations like UNICEF are open to the growing utility of BTC for humanitarian projects.

Amid the ongoing devastation of wildfires in Australia, a Bitcoin donation address has been created to assist those fighting the flames. Bitcoin donations are also providing sustenance for thousands of economically disenfranchised people in Venezuela as reported by Bitcoinist back in 2019. Bitcoin donations were also sent after the Notre Dame fire incident in April 2019.

Apart from emergency relief efforts, Bitcoin donations are also supporting projects that combat internet censorship. In mid-2019, Tor raised 65% of its $10,000 target from Bitcoin donations in only one day.

Do you think the likes of Brock Pierce and other crypto billionaires in Puerto Rico have a duty to contribute to relief efforts on the island following the recent earthquakes? Let us know in the comments below.

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